Financial institutions taking action

Since 2015, PCAF members (i.e. commercial banks, development banks, asset owners/managers, insurance companies, etc.) have been actively collaborating to develop and implement carbon accounting in their organizations.

All financial institutions have experienced great value in assessing and disclosing their GHG emissions of their loans and investments, as this triggers a institution-wide discussion on climate change and the role of the financial institution to facilitate the transition towards a low-carbon society.

Shaping the climate action journey for financial institutions

Measuring the financed emissions of a portfolio is the foundation enabling financial institutions to perform scenario analysis, set targets, inform actions and disclose progress. These areas jointly are crucial for portfolio alignment and decarbonization.

PCAF developed a guidance to help financial institutions navigate through the cluster of climate initiatives and understand their purpose, focus, coverage and target audience. The guidance comes with an overview of climate initiatives, describing the status and the requirements to join them. Understanding this landscape will help financial institutions at different levels of progress to identify the most efficient support available to scale their climate efforts.

“Our experience in the Netherlands is that measuring and tracking climate impact drives concrete action and change. [...] PCAF helped us understand that our nearly 800,000 residential mortgages are one of the areas that have the highest carbon impact. With that knowledge, we now promote mortgages that incentivize customers to take energy efficiency measures. Climate action like that is not only good for business - but is a duty to our clients, the planet, and to future generations.”

Kees van Dijkhuizen, CEO ABN AMRO

Overview of institutions

The following financial institutions have committed and disclosed the greenhouse gas emissions associated with their portfolio of loans and investments.

Institution

Headquarters

Region

Category

Total financial assetsin million $US (lending and investments) in 2018

Status

Date

Download

A.S.R.

Netherlands

Europe

Insurance

67,587

Disclosed

Aug, 2019

ABN AMRO

Netherlands

Europe

Commercial bank

644,938

Disclosed

Mar, 2020

APG

Netherlands

Europe

Asset owner/managers

531,319

Disclosed

Jul, 2019

ASN Bank**

Netherlands

Europe

Commercial bank

13,336

Disclosed

Feb, 2019

Access Bank PLC

Nigeria

Africa

Commercial bank

19,000

Committed

June, 2020

Achmea Investment Management

Netherlands

Europe

Asset owner/managers

93,724

Disclosed

Sep, 2019

Actiam

Netherlands

Europe

Asset owner/managers

64,265

Disclosed

Mar, 2019

Alternative Bank Schweiz*

Switzerland

Europe

Commercial bank

2,407

Committed

Mar, 2019

Amalgamated bank*

United States

North America

Commercial bank

16,507

Committed

Mar, 2019

Argenta Bank- en Verzekeringsgroep nv

Belgium

Europe

Commercial bank

45,857

Committed

Oct, 2019

BNG bank

Netherlands

Europe

Commercial bank

157,523

Committed

May, 2019

BRAC Bank*

Bangladesh

Asia

Commercial bank

4,283

Committed

Mar, 2019

Banca Etica*

Italy

Europe

Commercial bank

2,946

Committed

Mar, 2019

Banco Pichincha

Ecuador

Latin America

Commercial bank

10,664

Committed

Aug, 2019

Banco Popular*

Honduras

Latin America

Commercial bank

110

Committed

May, 2020

BancoSol*

Bolivia

Latin America

Commercial bank

1,993

Committed

Mar, 2019

Bank Muamalat*

Malaysia

Asia

Commercial bank

5,349

Committed

Mar, 2020

Beneficial State Bank*

United States

North America

Commercial bank

1,011

Committed

Mar, 2019

Boston Common Asset Management

United States

North America

Asset owner/managers

2,700

Disclosed

Mar, 2019

Caisse d’économie solidaire Desjardins*

Canada

North America

Commercial bank

780

Committed

Oct, 2019

Clearwater Credit Union*

United States

North America

Commercial bank

524

Committed

Mar, 2019

Coastal Enterprises, Inc. (CEI)

United States

North America

Development bank

107

Committed

Sep, 2019

Cooperativa Abaco*

Peru

Latin America

Commercial bank

393

Committed

Mar, 2019

Cooperative Bank of Karditsa Coop.L.L.*

Greece

Europe

Commercial bank

115

Committed

Mar, 2019

Crédit Coopératif*

France

Europe

Commercial bank

31,836

Committed

Mar, 2019

Cultura Sparebank*

Norway

Europe

Commercial bank

123

Committed

Sep, 2019

Danske Bank A/S

Denmark

Europe

Commercial bank

799,600

Committed

May, 2020

De Volksbank

Netherlands

Europe

Commercial bank

69,819

Disclosed

Mar, 2019

ESAF Small Finance bank*

India

Asia

Commercial bank

725

Committed

Mar, 2019

Ecology Building Society*

United Kingdom

Europe

Commercial bank

226

Committed

Mar, 2019

Ekobanken*

Sweden

Europe

Commercial bank

108

Committed

Mar, 2019

FMO

Netherlands

Europe

Development bank

8,544

Committed

Nov, 2015

FirstRand Group Ltd.

South Africa

Africa

Financial services group

111,000

Committed

Jul, 2019

GLS Bank*

Germany

Europe

Commercial bank

7,778

Committed

Mar, 2019

Grupo Bancolombia

Colombia

Latin America

Commercial bank

67,000

Committed

June, 2020

Investec

South Africa

Africa

Investment bank

63,100

Committed

May, 2020

KBC Group

Belgium

Europe

Integrated bank-insurance group

325,116

Committed

Sep, 2019

KCB Bank Kenya Limited

Kenya

Africa

Commercial bank

7,013

Committed

Aug, 2019

LAPO Microfinance Bank Limited*

Nigeria

Africa

Commercial bank

189

Committed

Mar, 2019

Landsbankinn

Iceland

Europe

Commercial bank

14,689

Committed

Sep, 2019

MN

Netherlands

Europe

Asset owner/managers

148,921

Disclosed

May, 2019

MagNet Hungarian Community Bank*

Hungary

Europe

Commercial bank

419

Committed

Mar, 2019

Merkur Cooperative Bank*

Denmark

Europe

Commercial bank

555

Committed

Mar, 2019

NIBC Holding N.V.

Netherlands

Europe

Commercial bank

21,500

Committed

Oct, 2019

NMB Bank*

Nepal

Asia

Commercial bank

945

Committed

Mar, 2019

NWB

Netherlands

Europe

Promotional bank

95,900

Committed

Jan, 2019

Opportunity Bank Serbia*

Serbia

Europe

Commercial bank

146

Committed

Mar, 2019

Produbanco

Ecuador

Latin America

Commercial bank

4,769

Committed

Sep, 2019

Rabobank

Netherlands

Europe

Commercial bank

676,374

Committed

Nov, 2015

Robeco

Netherlands

Europe

Asset owner/managers

191,306

Committed

Nov, 2015

SAC Apoyo Integral, S.A.*

El Salvador

Latin America

Commercial bank

143

Committed

Mar, 2019

Self-Help Credit Union and Ventures Fund

United States

North America

Commercial bank

2,700

Committed

Sep, 2019

Stichting Pensioenfonds Metaal en Techniek (PMT)**

Netherlands

Europe

Asset owner/managers

90,719

Disclosed

May, 2019

Stichting Pensioenfonds van de Metalektro (PME)**

Netherlands

Europe

Asset owner/managers

55,857

Disclosed

Apr, 2019

Sunrise Banks*

United States

North America

Commercial bank

1,132

Committed

Mar, 2019

Triodos Bank*

Netherlands

Europe

Commercial bank

17,793

Disclosed

Mar, 2020

UmweltBank*

Germany

Europe

Commercial bank

4,235

Disclosed

Apr, 2019

VSECU*

United States

North America

Commercial bank

1,118

Committed

Mar, 2019

Van Lanschot Kempen

Netherlands

Europe

Asset owner/managers

92,789

Disclosed

May, 2019

Vancity*

Canada

North America

Commercial bank

27,249

Committed

Mar, 2019

Verity Credit Union*

United States

North America

Commercial bank

587

Committed

Mar, 2019

Vermont Community Loan Fund

United States

North America

Development bank

43

Committed

Nov, 2019

Visión Banco*

Paraguay

Latin America

Commercial bank

1,156

Committed

Mar, 2019

XacBank*

Mongolia

Asia

Commercial bank

1,174

Committed

Mar, 2019

Total 64 institutions

Total financial assets: $ 4.5 Trillion

*) These banks are members of the Global Alliance for Banking Values (GABV) and have committed under their 3C Initiative to measure and disclose the carbon footprint of their loans and investments. Source: GABV (2019),Climate Change Commitment, 4 March.

**) PMT and PME are managed by MN. Therefore, the total financial assets of the group of institutions in the table do not count the assets of PMT and PME, as these are already counted in the assets of MN.ASN bank is part of de Volksbank. Assets of ASN bank are not counted in the total.

Achmea Investment Management is aware of the important role that the investment community plays in combatting climate change and achieving the ambitious objectives of the energy transition. We accept our responsibility to engage with the companies that we invest in and are committed to support measures to enable clarity about the footprint of our investments. Our participation in PCAF has been a valuable opportunity to learn and at the same time be at the forefront of carbon footprinting for financial institutions.

Rogier Krens, CIO Achmea Investment Management

Best practice examples

Financial institutions have applied the PCAF methods in various asset classes.

Please click in any asset class below to find out more about how financial institutions have measured the greenhouse gas emissions associated with the specific asset class.